Jordan received JOD1.6nln of GCC grant

[4/19/2017 4:04:24 PM]

AMMONNEWS - Jordan has received JOD1.6 billion out of JOD3.5 billion grant Arab Gulf nations pledged to the Kingdom in 2012 to be paid over a 5-year period, according to data released Wednesday by the Ministry of Planning and International Cooperation.

The data showed Saudi Arabia, Kuwait and the United Arab Emirates have transferred JOD524.94 million; JOD721.4 million and JOD415.4 million respectively.

The total amount spent in 2016 from the grant amounted to JOD327.17 million, while the value of grants whose financing agreements had been signed reached JOD2.469 billion, according to the data.

The GCC's Supreme Council had approved a $5 billion grant to fund development projects in Jordan over a five-year period, shared by Saudi Arabia, the United Arab Emirates, Kuwait and Qatar with $1.25 billion from each country.